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Course: Microeconomics > Unit 7
Lesson 1: Perfect competition- Introduction to perfect competition
- Perfect competition and why it matters
- Economic profit for firms in perfectly competitive markets
- How perfectly competitive firms make output decisions
- Efficiency in perfectly competitive markets
- Perfect competition foundational concepts
- Long-run economic profit for perfectly competitive firms
- Long-run supply curve in constant cost perfectly competitive markets
- Long run supply when industry costs aren't constant
- Free response question (FRQ) on perfect competition
- Perfect competition in the short run and long run
- Increasing, decreasing, and constant cost industries
- Efficiency and perfect competition
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